Lose the Clutter, Clean and Set the Stage to Sell! This advice applies anytime you sell a property but particularly when that property is falls in the luxury category (usually R10m and upwards).
When buyers are looking at a multi-million rand home, they expect to see something that looks like a million dollars. They don't expect to see your clothes lying all over the place on the sofa and doors that won't shut properly.
Dealing with Clutter includes personal family photos. That photo of you and your favorite politician may be something you're proud of, but it may turn off a buyer who votes for the opposition. Rather put them away. It will give you an edge on packing up when your home is sold if you've already boxed the personal items.
Most luxury home owners have household help to keep their homes clean. It's easy for someone who cleans a home to get into a routine that may skip some of the things a stranger (prospective buyer) will notice immediately. The surfaces get polished but do they get into the corners? Buyers (especially if they really like the place and are considering putting in an offer) may open cupboards and look under sinks that you never notice. Don't let them find a collection of dust. Ask the household staff to give everything a thorough cleaning before you list, and keep it maintained in best condition during the viewing/selling period.
Take an honest look at your home and decide if it looks like a luxury home. Would you be bowled over by it if you didn't live there? If the answer is no, you may want to do a bit of staging. If you need more advice on staging, I have a professional home staging team who can help.
Showing posts with label property for sale in Cornwall Hill. Show all posts
Showing posts with label property for sale in Cornwall Hill. Show all posts
Saturday, October 3, 2015
Friday, October 2, 2015
Tips for Buyers in a Sellers Market
A Sellers Market is usually a situation where there are many buyers but low inventory of homes for sale. What happens in this scenario is houses that are priced correctly will sell quickly and sometimes for more than the listing price. Prices will be on the rise until the point at which it would be cheaper to buy a brand new property (when the building costs per square metre are less than the price per square metre that the Seller wants for his second hand home).
In a Sellers Market, there are a few things the Buyer can do to ensure you get your dream house.
Have a deposit ready (down payment or earnest money deposit) Lending requirements change from time to time, but even where financial institutions may be prepared to loan up to 100% only half of Buyers who apply for home finance are actually successful on their Bond application. A Buyer who is able to put down even a small deposit has a greater chance of securing hone finance. If you as a Buyer can work to secure a pre-qualification from a Bond originator, you are more likely to be treated as a serious Prospect by an agent, and will be in a better position to make a successful offer.
Time is of the essence in a Sellers market. Don't wait for the weekend for a viewing appointment: the property you want could be sold. If you waste too much time in making a decision to put an offer down on your "dream home" there may be a few Buyers after the same property and you could lose the opportunity.
Asking for favours. This us not the time to negotiate for the Seller to fix things or to repaint. Since there are many Buyers the Seller can choose a Buyer that does not have to put in a suspensive clause where they buy subject to the sale of their own property.
In a Sellers Market, there are a few things the Buyer can do to ensure you get your dream house.
Have a deposit ready (down payment or earnest money deposit) Lending requirements change from time to time, but even where financial institutions may be prepared to loan up to 100% only half of Buyers who apply for home finance are actually successful on their Bond application. A Buyer who is able to put down even a small deposit has a greater chance of securing hone finance. If you as a Buyer can work to secure a pre-qualification from a Bond originator, you are more likely to be treated as a serious Prospect by an agent, and will be in a better position to make a successful offer.
Time is of the essence in a Sellers market. Don't wait for the weekend for a viewing appointment: the property you want could be sold. If you waste too much time in making a decision to put an offer down on your "dream home" there may be a few Buyers after the same property and you could lose the opportunity.
Asking for favours. This us not the time to negotiate for the Seller to fix things or to repaint. Since there are many Buyers the Seller can choose a Buyer that does not have to put in a suspensive clause where they buy subject to the sale of their own property.
Tuesday, September 29, 2015
Why good photos are important when selling your property
These days all home buyers start their search online.
They look at the photos and virtual tours of homes that interest them. This is especially important in the higher price ranges. In the starter-home market, a home might sell just because it's priced right and in a desirable location (close to commuter transport). In higher price ranges, professional photos are essential, as your buyers may well be from out of town or even living overseas. Luxury homes can have finishes like dark wood that do not show up well when photographed with a cell phone.
A professional photographer will capture the details of your home that are important to the affluent buyer. Luxury homes may need more than one photo shoot to capture the ambience and amenities at different times of the day.
Great photos and videos may be exactly what encourage an international buyer to fly in for a viewing of the property.
They look at the photos and virtual tours of homes that interest them. This is especially important in the higher price ranges. In the starter-home market, a home might sell just because it's priced right and in a desirable location (close to commuter transport). In higher price ranges, professional photos are essential, as your buyers may well be from out of town or even living overseas. Luxury homes can have finishes like dark wood that do not show up well when photographed with a cell phone.
A professional photographer will capture the details of your home that are important to the affluent buyer. Luxury homes may need more than one photo shoot to capture the ambience and amenities at different times of the day.
Great photos and videos may be exactly what encourage an international buyer to fly in for a viewing of the property.
Sunday, September 27, 2015
Get your Luxury Home Sold
5 Tips for selling a luxury home (from a seasoned real estate agent):
Make the Right First Impression Enhanced landscaping, rearranging and staging existing furniture, are some of the ways to capture the interest of a buyer from the moment they arrive for the first time. Perfect home staging can be the very thing that ensures a successful sale.
Attracting the right market Use a luxury agent with a large network of high-end buyers both local and international. Effective marketing and advertising is key to any business transaction, not just in print or online channels, but since 95% of your buyers will be online it is important when selling a luxury home to be well versed in the way various social media channels work. Used incorrectly, these channels can have the opposite effect and sink rather than sell your luxury property.
Patience not Pressure Follow the lead of your agent, who has the experience to create and execute a successful selling strategy. Impatience can result in stress, putting off some buyers and worst of all can be detrimental to the sale and result in a lowered price.
Work With, Not Against, Your Agent From the outset, communicate your expectations. These may need some adjustment, the experience of your agent will assist in guiding you. Sometimes it may be necessary to face some hard truths about the property, or staging, or even the listing price. Remember that you employ a professional to be honest and set realistic goals. Good communication will help the you to feel empowered and understand what needs to be done to fulfill your expectations.
Consider Throwing in Extra Incentives Your imported furniture or hand-picked art pieces can become the leverage you need in order to motivate a buyer. It won't be the first time a buyer has made a decision to buy a particular home or even paid full asking price because a piece of furniture (or all of it) or an artwork was included in the deal.
Make the Right First Impression Enhanced landscaping, rearranging and staging existing furniture, are some of the ways to capture the interest of a buyer from the moment they arrive for the first time. Perfect home staging can be the very thing that ensures a successful sale.
Attracting the right market Use a luxury agent with a large network of high-end buyers both local and international. Effective marketing and advertising is key to any business transaction, not just in print or online channels, but since 95% of your buyers will be online it is important when selling a luxury home to be well versed in the way various social media channels work. Used incorrectly, these channels can have the opposite effect and sink rather than sell your luxury property.
Patience not Pressure Follow the lead of your agent, who has the experience to create and execute a successful selling strategy. Impatience can result in stress, putting off some buyers and worst of all can be detrimental to the sale and result in a lowered price.
Work With, Not Against, Your Agent From the outset, communicate your expectations. These may need some adjustment, the experience of your agent will assist in guiding you. Sometimes it may be necessary to face some hard truths about the property, or staging, or even the listing price. Remember that you employ a professional to be honest and set realistic goals. Good communication will help the you to feel empowered and understand what needs to be done to fulfill your expectations.
Consider Throwing in Extra Incentives Your imported furniture or hand-picked art pieces can become the leverage you need in order to motivate a buyer. It won't be the first time a buyer has made a decision to buy a particular home or even paid full asking price because a piece of furniture (or all of it) or an artwork was included in the deal.
Saturday, September 26, 2015
"I’m going to list with the agent who has the lowest commission.”
You get what you pay for. Paying a low commission will often get you a "For Sale" sign on weekends and an Internet listing, perhaps a Newspaper ad but little extra effort from your agent.
Estate agents use their own funds to market and advertise your home, which costs money: the lower the commission, the less incentive there is for an agent to finance the marketing of your home. For example: part of my funding goes to national TV ads with Remax: we don't use newspaper ads (they don't work), instead, we run national ad campaigns on DSTV which drive leads to our website. I have noticed that my Internet ad response increased dramatically (40 leads instead of 4 per listing) after joining Remax as a result of their strong SEO and recognized branding.
Incentive plays a key role in sales. An agent earning a full commission will often “drop everything” to handle any challenges that come along – an agent earning a small commission doesn't have that same incentive. Most agents will focus on those listings where they know the commission is not an issue.
Negotiating ability is an important skill in a listing agent. Are you willing to put your faith in an agent who can’t even negotiate his or her own commission? If they cannot do this, how can you expect them to negotiate the best price for your most expensive asset? An agent who is prepared to drop even 1,5% in their commission is effectively taking a salary cut of 20%. Would you be happy if the agent likewise reduced your profit on the sale of the property by 20% because they were unable to negotiate a better offer from the Purchaser?
Something to remember is to check if the commission excludes VAT.
7.5% plus VAT = 8.55%
7% plus VAT = 7,98%
6% plus VAT = 6,98%
Since I am an Independent Contractor with Remax there is no VAT applicable to my commission.
Any agent whose main bargaining tool for securing a listing is to reduce their commission is not likely to secure you the best price or be the best person for the job of selling your property.
Estate agents use their own funds to market and advertise your home, which costs money: the lower the commission, the less incentive there is for an agent to finance the marketing of your home. For example: part of my funding goes to national TV ads with Remax: we don't use newspaper ads (they don't work), instead, we run national ad campaigns on DSTV which drive leads to our website. I have noticed that my Internet ad response increased dramatically (40 leads instead of 4 per listing) after joining Remax as a result of their strong SEO and recognized branding.
Incentive plays a key role in sales. An agent earning a full commission will often “drop everything” to handle any challenges that come along – an agent earning a small commission doesn't have that same incentive. Most agents will focus on those listings where they know the commission is not an issue.
Negotiating ability is an important skill in a listing agent. Are you willing to put your faith in an agent who can’t even negotiate his or her own commission? If they cannot do this, how can you expect them to negotiate the best price for your most expensive asset? An agent who is prepared to drop even 1,5% in their commission is effectively taking a salary cut of 20%. Would you be happy if the agent likewise reduced your profit on the sale of the property by 20% because they were unable to negotiate a better offer from the Purchaser?
Something to remember is to check if the commission excludes VAT.
7.5% plus VAT = 8.55%
7% plus VAT = 7,98%
6% plus VAT = 6,98%
Since I am an Independent Contractor with Remax there is no VAT applicable to my commission.
Any agent whose main bargaining tool for securing a listing is to reduce their commission is not likely to secure you the best price or be the best person for the job of selling your property.
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